Riyadh - Sharikat Mubasher: Seedra Ventures and Startup Wise Guys (SWG) launched the first construction tech specialized fund and accelerator program in Saudi Arabia, in collaboration with the National Technology Development Program (NTDP), a recent statement unveiled.

This collaboration represents a new chapter for the Saudi startup ecosystem and its impacts on the global startup ecosystem.

The specialized fund will be headed by SWG, boasting two General Partners, Jourdan Younis and Aya Zaghnin. It aims to actively contribute to providing cutting-edge technologies within the sector and foster the growth and development of built assets in the Kingdom, driving meaningful change through technology.

The accelerator program, expected to be launched in the third quarter of 2024, will empower entrepreneurs and innovators in the construction tech space, leveraging SWG’s expertise in nurturing B2B startups.

Participating startups will have the chance to collaborate with experts and mentors from SWG’s extensive network, gaining valuable insights and guidance to scale their businesses globally.

Bolstering this partnership, SWG will work with WZMH on establishing Sparkbird, the first satellite research and development lab in Riyadh that will focus on developing existing technologies for implementation in the Middle East and North Africa (MENA).

SWG’s collaboration with WZMH will pave the way for Sparkbird's innovations, particularly those tailored to the Saudi construction market.